I still think it's oil being blown out the inlet of the turbo.
I found this article which I agree with.
 
Below is what someone has written.
http://www.skylinesaustra...ce-around-turbo-inlet/
 
"Is it just me or is the oil 'vortex' pattern going the opposite way that the air would be sucking into the compressor wheel?

IE: the compressor wheel is spinning clockwise (and so pulling air from the 'left' of the vanes) but the oil pattern seems to be going anti-clockwise?

Or have i misunderstood basic fluid/air physics? (most likely)"
 
 

Could also be a combination of both ideas. 
 
Turbo sucking in air + engine oil mist (PCV/catch can) + dust particles? (Air inlet tract)
Then when backing off throttle at low boost (No bov operating) the combo above is coming back out. But then again there doesn't appear to be any oily crap being exhausted from the bov when it does go off.
 
My opinion is still to vent the Catch can to atmo, cap the vac nipple on the air inlet piping and give the turbo a thorough clean. Maybe a new air filter as well.
 
What type of filter are you running in that airbox?
 
It would be highly unlikely that it is turbo related as it looks like very early stages of what happened to the old turbo. Must be caused by something that has been present since the first turbo (when half cut purchased)

Another thing you could check is your PCV valve in the valve cover. Remove it and see if you can blow through it in both directions. It should only allow air to travel one way from the valve cover to the inlet manifold in an off boost vacuum situation.
When boosting it stops pressurised air from the inlet manifold entering the valve cover. If the boost got in it could blow oil out the other hose through the catch can and into your turbo (which is also sucking hard at this point as its boosting)
 
Is the engine using much oil? Do you have to top it up between oil changes?

Mrskylighter
 
What type of filter are you running in that airbox?
 
It would be highly unlikely that it is turbo related as it looks like very early stages of what happened to the old turbo. Must be caused by something that has been present since the first turbo (when half cut purchased)

I am running just a normal Toyota panel filter. But I have just bought a new pod as with the set up I had there was an area where small amounts of unfiltered air could get in due to the flexi pipe size.

Seems so. Just hope I can get on top of it before it causes any damage.

Mrskylighter
Another thing you could check is your PCV valve in the valve cover. 
 
Is the engine using much oil? Do you have to top it up between oil changes?

I checked the PCV. You can blow a little bit of air through it but as soon as you blow even more air through it. It shuts closed not allowing any air through. I then checked this against a spare PCV I had and got the same results. I have put the spare on just in case it does help. 

The engine is using zero oil. Im doing a service whilst all of this is going on so there will be fresh oil going in. But over the last 8k since the previous oil change is has not dropped below full. 
  

Clean the turbo inlet and intake pipe. Drive it, check it, see if oil is coming out of the turbo when warm. Then just trace it back that way. to me it looks the oil seal in the turbo might have a slight leak even though you have had the turbo rebuilt recently, it still does look to be coming out the inlet. Only way to tell really is clean it off and check after a short drive. Since your a Gen3 you can run it at idle with no intake pipe and see if oil is coming out of the turbo even, reving it moderately when warm to build some boost and see if oil comes out.

I will definitely give that a go and hope for the best that its not an oil seal. 

Thanks a lot guys for all the help. Appreciate it!